Analysts Announce the Next 3 Altcoins in Strong Rising Binance –

According to crypto analyst Filip L, Binance Coin (BNB) bulls may have played with a 10% drop risk here. The analyst says the Tezos (XTZ) rally is almost out of fuel as there is uneven terrain ahead. Analyst Ekta Mourya says Polygon (MATIC) price is on its way to break a symmetrical triangle with a target of $2,474. We have compiled for our readers the analysis of Filip L and Ekta Mourya’s three altcoin projects.

“BNB sees bears playing a different game”

Altcoin price hit $323.80 during the ASIA PAC session on Tuesday morning. If it were not for the fact that this level has been so significant since June of last year. That doesn’t tell us much. In fact, though it has broken both up and down, it has retained a certain relevance throughout this period, with a few closes above or below it and generally stopping any upside breakouts. Seeing the current drop above $10, it seems that the bears are not gone, they are just staying on the sidelines and waiting for the right moment to strike.

Therefore, BNB may be at risk of lingering soon, as the bears are definitely marking $323.80 and are ready to blow their sell-side offers at this level. The bulls will be somewhat trapped. At the same time, the decline can only gain strength as the Relative Strength Index returns to the overbought level. This means that new traders and bulls will want to wait before entering price action as the upside potential is limited. This could make another sell-off towards $280 with the 200-day Simple Moving Average (SMA) as vital support.

BNB daily chart

cryptocoin.comA closer look at current market trends and conditions shows that the markets are detoxing a little from the US dollar. Even on Monday night, it became clear that stocks were the tailwind for cryptocurrencies. When US stocks rallied, it was buzzing for the top three cryptos rising seconds after that. If stocks can repeat this rally, that could be enough for BNB to break above $323.80 and move towards $336.50.

“Altcoin sees rally fly by”

Tezos price has made a surprising technical bounce since Wednesday, Jan. 18, gaining over 20% after hitting the R1 resistance floor at $0.9385. This pure technical break also came as the Relative Strength Index (RSI) fell from the overbought zone. After a definitive rejection against $1.1936, the bulls still seem to be outpacing the bears despite some issues. So XTZ still has some upside potential. But bulls run out of fuel pretty quickly. This makes it very difficult to stay ahead of the bears. Unfortunately, once they manage to get above $1,1936, some of the rugged terrain will make them sweat. Thus, it will trigger some profit taking and it will disappear downwards. The first level to cause headaches is around $1.30, where the 200-day Simple Moving Average and the monthly R3 pivot are very close.

In general an R3 resistance level adds to the idea of ​​seeing a small stop and drop at this level as it is often seen as the furthest a price action can go for that time and is often used as a handle for bears to start shorting the price action. The RSI also confirms this idea as it enters overbought territory after a brief decline for cooling in price action. Expect a rally towards $1.40 at most. Besides, it will be too demanding for this rally. Once it hits, XTZ will see it return to $1.30 or $1.19.

XTZ daily chart

A few factors already mentioned above could trigger the cooling off in the rally much sooner. The bears may already be entering the fray as the RSI overbought again and saw the price action taken on Saturday get rejected. This means that soon the sentiment will change and price action could drop below $1 to test support from monthly R1.

“MATIC price is on track to reach its target”

MATIC, the native token of the Polygon network, is currently trading inside a symmetrical triangle. As seen in the chart below, the altcoin is on track to witness a bull run towards the $2,474 target. Using the Bulkowski Measure rule, the target for an upside break of the symmetrical triangle is $2,474 after taking the difference between A and B and adding it to the meeting price target of 58% for an upside break.

MATIC price chart

The Relative Strength Index (RSI) momentum indicator is 64.32. This is below the overbought level of 70. This means that there is room for the altcoin price to climb higher. However, a drop below the lower trendline forming the symmetrical triangle or the confluence of the 50-day and 200-day Exponential Moving Averages (EMAs) could invalidate the bullish thesis for MATIC.

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